Enlightened Entrepreneurs mentor nonprofits

SANDY — Being an entrepreneur is not a whole lot different than being someone who is starting a nonprofit organization — both work to develop funding to keep their enterprise going.

It was with that idea in mind that the Community Foundation of Utah put together a program Tuesday called "Enlightened Entrepreneurs" to have local business people mentor members of the Utah nonprofit sector on how to grow.

"Both groups are very passionate about what it is they are trying to achieve," Fraser Nelson, executive director of the Community Foundation of Utah, told the Deseret News. "They both work up against daunting odds and don't give up, and they understand that there is immediate pressure to serve the community."

Enlightened Entrepreneurs was a one-day event sponsored by the foundation at the Sandy campus of Salt Lake Community College. Among the highlights of the program was a panel discussion on the intersection of philanthropy and business success featuring insights from four local executives.

Asked if doing good translated into profits in the long-term mission of a company, the common answer from the panelists was "yes."

"The things that we do to help the community also builds the personality or the brand of (our company)," Sarah Merz, chief executive officer of Franklin Covey Products, told the audience of more than 100 people. "We do feel that it anchors the brand more strongly in people's minds, which ultimately does help the profitability of the company."

Panelist Charley Johnson, executive vice president of Salt Lake City-based promotional products company Snugz, said that working for the benefit of others definitely can be profitable.

"Doing something good for the world, doing something good for your community, doing something good for your employees or doing something good for the world … there is no chance but to do good for your company," he said.

"It's going to increase profits, (and) it's going to make your employees happier, and happier employees are better employees and better employees can increase profits."

During the program, the entrepreneurs also offered one-on-one input to representatives of the nonprofits in intense five-minute "speed mentoring" segments, similar to speed dating. The mentors shared alternative perspectives on the problems facing the community and suggested strategies for resolving those and other issues.

Entrepreneur Phil Hansen, chief executive officer of technology company Clearlink, said companies that create a "double bottom line" — one for philanthropy and one for profit — can make the most of their opportunities to help their community.

"It's fun to make fun, it's fun to give money and it's fun to benefit people," he said.

"Both feel good, (so) do them both at the same time."

e-mail: jlee@desnews.com